19 August 1997
Severfield to axe Manabo?
SEVERFIELD-REEVE is considering selling or closing its Manabo food hygiene subsidiary. Manabo makes cleaning and disinfecting machines for knives and chain-mail gloves for meat processing.
The BSE crisis has left the meat processing industry without spare cash for such machinery. The strong Pound has hit exports.
John Severs, managing director, accused the meat industry and not his companys product. He said the meat industry was reluctant to change its ways in health and hygiene.
The group announced first-half pre-tax profits up from £1.8 million to £3.89m on turnover up 88% from £27.8m to £52.3m. Manabo made an operating loss of £902,000, more than double the £450,000 for the whole of 1996.